Vanke, China's largest property developer in terms of market value announced on Wednesday that it will launch its first villa project in Beijing.
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The project is part of Vanke's efforts to expand its high-end developments in the capital.
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The project is in Shunyi, an area known for its villas. Vanke spent 3.3 billion CNY (532 million USD) in 2013 to purchase a plot of land there.
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The project will be the fourth high-end development for Vanke in Beijing.
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According to Mao Daqing, senior vice president, the company will still focus on residential projects targeting regular consumers.
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"The proportion of high-end projects and middle-end projects will be around 2:8," said Mao.Â